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Downtown Industries Announces Change of Directors and Officers

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 24, 2010) - Downtown Industries Ltd. (TSX VENTURE:DWN.H) (the "Company") announces the appointment of Aaron Keay as a director of the Company to join incumbent directors Kenneth Morgan and Marc Blythe. Mr. Keay has been appointed as the Chief Executive Officer and Chairman of the Company and Kenneth Morgan has been appointed as the Chief Financial Officer of the Company.

The Company also announces the resignations of Raymond Fast as a director, Aurora Catibog as the Chief Financial Officer and Kenneth Morgan as the Chief Executive Officer of the Company.

ON BEHALF OF THE BOARD

Kenneth Morgan, Chief Financial Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.